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Here's One Way The YouTube Ad Crisis Has Taken Its Toll On Alphabet

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Here's One Way The YouTube Ad Crisis Has Taken Its Toll On Alphabet

For the most part, Wall Street analysts are showing signs of concerns over Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)'s YouTube ad scandal but disagree on what impact this would have on the stock

For instance, Brian Nowak of Morgan Stanley commented in a research report that the ad scandal is a "real issue" but the analyst maintained an Overweight rating and $1,000 on Alphabet's stock. On the other hand, Brian Wieser of Pivotal Research Group downgraded Alphabet's stock to Hold from Buy with a price target lowered to $950 from a previous $970.

Statista: Crisis Has Taken Its Toll

While the Wall Street community will continue to debate any short and long-term impact to Alphabet in the coming days and weeks, Statista pointed out that the ad scandal has already taken its toll on Alphabet's stock.

According to Statista, despite a rebound in Alphabet's stock on Monday, the market capitalization has fallen by more than $20 billion since the scandal broke out.

"The whole episode has certainly been felt by parent company Alphabet and its shareholders," Statista noted.

At the end of February, Alphabet's (GOOG) market capitalization stood at $573.4 billion. It rose over the following days to $589.2 billion on March 17, the day when reports of the scandal started to surface. Alphabet's market cap for the time being bottomed at $563.1 billion on March 24.

As of Tuesday morning, Alphabet's stock was trading at a market capitalization of $574.23 billion.

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Latest Ratings for GOOG

DateFirmActionFromTo
May 2019MaintainsBuy
Feb 2019MaintainsOverweightOverweight
Feb 2019MaintainsBuyBuy

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

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